ETHICS IN BUSINESS

Presented By: Muhammad Anees Khan

Contents Introduction of ethics Distinguish ethics and law Ethics in business Importance of ethics in business Principles which form the business

ethics Ethical issue categories conclusion

Introduction of ethics

Ethics is a Greek word which mean manner or character.

Ethics are the principles, values, and beliefs that define what is wrong and right behaviour.

Distinguish ethics and lawETHICS

Not use force Concentrate on

Do’s Broad concept

LAW Use force Concentrate on

Dont’s Narrow concepts

Ethics are more important than laws. (Wynton Marsalis)

Ethics in business Business Ethics

Prescribes Standard of how the business is to be carried out.

The responsibility of the managers and employees

Guidelines to Stakeholders.

Quotes on business ethicsBeing Good Is A Good Business.

(Dame anita Roddick)A Man Without Ethics Is Wild Beast

Loosed Upon This World (Albert camus)

Importance of ethics in business Reputation attract more employees To avoid lawsuit Attract new customers Attract new investors

Principles which form the Business Ethics Honesty Keeping Your Promises Respect Obeying the law Accountable

Ethical issue categories

Conflict of interest Child labor Accounting Fraud Unethical

Communication Misuse of company

resources

Conflict of interest

A conflict of interest (COI) is a situation in which a Person or organization is involved in multiple interest, financial interest, or otherwise, one of which could possibly corrupt the motivation of the individual or organization.

Child labour Child labor is

unethical Worldwide, an estimated

211 million children aged under 15 work.

In India, one of the world's fastest-growing economies, the UN estimates that child labour contributes 20 per cent of gross national product.

Source:http://www.ethicaltrade.org

Accounting Fraud  One Of The Most Widely Reported

Violation Of Accounting Ethics Involved ENRON, a Multinational Company, That For Several Years Had Not Shown A True Or Fair View Of Their Financial Statements. Their Auditor Arthur Andersen, An Accounting Firm Considered One Of The “Big FIVE", Signed Off On The Validity Of The Accounts Despite The Inaccuracies In The Financial Statements When The Unethical Activities Were Reported, Not Only Did Enron Dissolve But Arthur Andersen Also Went Out Of Business. Enron's Shareholders Lost $25 Billion As A Result Of The Company's Bankruptcy.

Source:https://en.wikipedia.org

Unethical Communication

Threatens the quality of all communication and consequently the well being of individual and society

Misuse of company resources

According to surveys conducted in Europe and the United States, company employees spend up to 30% of their working hours on private affairs

Source:https://securelist.com

conclusion The purpose of ethics is to enhance our

lives and our relationship both inside and outside the organization

Thank you